Bloomberg names Roman Abramovich Russia's most charitable billionaire

The oligarch has donated $310 million to philanthropic causes over the past three years, bringing his total to more than $2.5 billion from 2000-2012.

CEO of Millhouse Capital and
owner of the Chelsea Football Club, Roman Abramovich has earned the title of
the most charitable Russian billionaire of the past three years. Bloomberg
states he has donated approximately $310 million of his $12.8 billion fortune
in that period.

According to the Bloomberg, the 46-year-old
billionaire has given more to charity than any of Russia's 15 wealthiest
people. About $98 million was spent on social projects in Chukotka, a Russian
region where he used to be governor.

Abramovich first became governor of this
northern territory that borders Alaska in 2000, and remained in office for
eight years.

A strategic territory for the USSR, Chukotka was on nuclear watch
during the Cold War era. However, once the Cold War was over, the region became
increasingly desolated. Its population shrank almost threefold, and its
infrastructure was falling to pieces. According to an eyewitness, "once
Abramovich came in as governor, the entire Chukotka area was turned into an
enormous construction site. He was spending his own money."

In Anadyr, Chukotka's administrative centre, he
rebuilt the community centre and administration buildings. He built a new
stadium with a skating rink, a state-of-the-art movie theatre designed as an
iceberg made of glass, the Baklan entertainment centre, a laundrette and a
fitness club. Hotels were renovated, and Internet and mobile connections
established. Dilapidated houses were pulled down, and new single-family homes
were built in the American style.

The new homes were granted free of charge to
Chukotka residents.

According to Bloomberg, Abramovich's personal
investment in Chukotka has topped $2.5 billion since 1999, which amounts
roughly to $179 million a year.

Furthermore, Abramovich also gave $65 million to
support the Avangard ice hockey team from Omsk, and $52 million to the
Federation of Jewish Communities of Russia and the Jewish Fund, which he set up
himself.

Metalloinvest owner, Alisher Usmanov, came in
second in the Bloomberg ranking. The wealthiest person in Russia - and the 35th
wealthiest individual in the world - gave away $247 million of his $19.1
billion fortune. Viktor Vekselberg, Chairman of the
Renova Group Board of Directors, ranked 3rd with $160 million in charitable
donations.

According to experts polled by the agency,
philanthropic donations of Russian billionaires have been steadily rising.

"It's only the last few years that have seen ultra-rich Russians starting
to pay attention to what they can do to make the world a better
place," New York attorney, Edward Mermelstein said. "In the past,
charitable giving was done more for vanity, but today we see some serious
philanthropists."